Tuesday, June 26, 2007

Waiting for the 'Dow' to lead




So far been learning the the Dow Jones Industrial Average leads the SGX cos we are only a small red dot while they are zillion times bigger den us :D. Dow not looking that pretty here as it may be forming a double tops pattern though not yet confirmed. Once it pierce the neckline, a double tops pattern is confirmed ! Looking at the technical indicators, MACD and RSI showing bearish divergence. Furthermore i tink got black candles with high volume near the top which is of cos not good la . Yesterday it formed a doji so i guess the market showing some indecisiveness. I heard fundamentally there are some important reports that will be released which might affect the mood for this month but oh well, whatever that is being released fundamentally will be reflected in the charts too. Too lazy to find out what is happen fundamentally oso :)

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